S&P 500 AND NASDAQ GAIN AS SOFTER PCE DATA SUPPORTS RATE-PAUSE HOPES

The S&P 500 and the Nasdaq rose on Friday after a softer-than-expected reading on a crucial inflation metric kept alive hopes of a pause in the Federal Reserve's rate hikes, though all three main Wall Street indexes were on track for quarterly declines.

A Commerce Department report showed the personal consumption expenditures (PCE) price index, considered to be the Fed's preferred inflation gauge, climbed 0.4% in August month-on-month, against estimates of a 0.5% rise.

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